It's not skin off your wallet.

It honestly doesn't look like a bad deal for you, but I really don't see why the seller would basically give you the property without any down payment or skin in the game unless they just want to get out.

I think it's an interesting look into human nature.

The complicated questions requiring complicated and experienced answers will get fewere responses simply due to the nature of the post.Lenny, my suggestion is to be vreative in how you post your question and name it.

In the current environment (generally declining home values), lenders want the homeowner to have some skin in the game.

I live in Louisiana, and there has been a recent natural gas boom because of the Haynesville Shale.

I wish I had found this forum earlier, along with some of the tools I've since found.The rehab...St Clair Shores 2/1 ~1100sqft all brick ranch w/ attached 2 car garage & natural converted to gas fireplace.Typical foreclosure house, crayon & markered walls, pet smell, no updates, needs some plumbing (poorly winterized), kitchen needs to be gutted, needs windows updated.On the plus side, solid structure & newer dimensional roof.Bank "bought" it from prev owner (assessor records) for $118+k, was listed for $55k, sold to me for $35k cash from a bulk buyer.House next door is a comp that is listed to $115k.

Just the nature of the business right now.

I spent 25 years in the business of servicing owner financed notes, so naturally, I think you should use a servicing company to have them take care of your notes

Most of my family is in real estate and seems like a natural transition in my life to this type of investing.